Ukraine boosts grain exports despite intensified Russian attacks

Ukraine is scrambling to ship as much grain as it can this summer, taking advantage of military gains it has made in the Black Sea area to boost exports even as Russia has attacked its ports, News.az reports citing Reuters .

Ukraine is a major global wheat and corn grower and before Russia's invasion in 2022 the country exported about 6 million tons of grain alone per month via the Black Sea.

Grain sales are a crucial revenue source and while global prices are weak, Ukraine's cash-strapped farmers have little choice but to push ahead with exports because they need to fund the next winter sowing season.

Ukraine doubled food exports in July to over 4.2 million metric tons from the same month last year, according to data from Ukraine's UGA traders' union, despite intensified Russian attacks on Odesa, a key Black Sea export hub, and Izmail, a major port along the Danube River taking grain into Europe.

Ukraine has not yet reported the destinations of its exports in July, but last season it exported most of its wheat to Spain, Egypt and Indonesia, with its corn mostly heading for Spain and China.

The surge comes despite this season's drop in output caused by war-related disruptions, and there is no guarantee that Kyiv can sustain the trend into the full 2024/25 season.

"We are doing everything to make business feel comfortable even in wartime conditions," Dmytro Barinov, deputy head of Ukraine’s Seaport Authority, told Reuters.

The exports are a combination of new season wheat plus corn from stocks following last year's bumper harvest.

So far, Ukraine has exported 3.7 million tons of agricultural goods in July through Odesa and 569,000 tons via the Danube, export data showed. That compared with 291,000 tons via Odesa and 2.07 million tons through the Danube in July 2023.

There were six shipments of corn from Ukraine's other two operational Black Sea ports of Chornomorsk and Pivdennyi in June and July to Rotterdam, Europe's busiest port, and Spain's Cartegna, separate LSEG shipping data showed.

News.Az